SOCIAL GAMING MARKET ANALYSIS

Social Gaming Market Size and Trends

Global social gaming market is estimated to be valued at US$ 31.06 Bn in 2024 and is expected to reach US$ 89.74 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 16.4% from 2024 to 2031.

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The Global Social Gaming Market growth is driven by rising internet and smartphone penetration worldwide. Increased time spent online and preference for casual gaming on social media platforms can drive the social gaming market growth. Market players are focusing on introducing innovative gaming formats and monetization strategies to engage users for longer periods.

Market Driver - Increasing popularity of mobile and social media gaming

 Global Social Gaming Market has witnessed growth due to widespread adoption of smartphones and tablets across the world. With powerful capabilities of mobile devices that enable graphics-rich, immersive gaming experiences on- the-go, mobile gaming has become a dominant segment within online gaming space. The ability to easily connect with friends through social media platforms has propelled the popularity of social gaming, where people can play and collaborate with others online.

Mobile games offer highly polished, console-like gaming that was not possible on phones. Blockbuster franchises like Pokémon Go and Candy Crush Saga have achieved mass appeal and shown the commercial potential of mobile formats. Their success underscores how mobile and social features can effectively converge to create engaging gameplay. With mobile internet connectivity becoming ubiquitous, people now have opportunities to fill idle moments with quick mobile games anytime, anywhere. This has translated into significant times spent in-game on phones each day. Meanwhile, social elements let players leverage their network of real-world connections to help or compete with each other in games.

In February 2024, Playtika Holding Corp., a leading mobile gaming entertainment company that is known for its portfolio of popular social casino games, merged with a gaming analytics firm such as Roblox Corporation, Epic Games, Inc., Playtika Holding Corp., Gameloft SE, etc. to enhance its user experience and engagement strategies. This strategic move aims to leverage advanced analytics to better understand player behavior and preferences, ultimately improving game design and increasing player retention. By integrating innovative analytics solutions, Playtika seeks to strengthen its position in the competitive Social Gaming Market and provide players with more personalized and engaging gaming experiences.

Rising user engagement through social interactions in games

Social gaming has become a lucrative business model for game developers and publishers. By integrating social features directly into the game design, developers can foster a sense of community and responsibility among players, leading to increased engagement and monetization opportunities.

Popular social games employ gameplay loops that incentivize collaboration, communication, and assistance between friends, creating a sense of community and responsibility. Leaderboards and achievements pit friends against each other in friendly competition, which can be a powerful driver of recurring usage when placed in a social context.

Live game worlds that exist independently of a single user's session allow asynchronous social play to emerge organically over time. This blend of gameplay and social interactions ultimately creates spirals of engagement, keeping players invested in the game and sustaining higher levels of long-term participation.

For developers and publishers, this translates directly to increased monetization opportunities through longer user lifespans in-game. Social gaming has become a key strategy for generating revenue and retaining players in the highly competitive online gaming market.